October 12, 2012 –
Notice to Tribal Members
MAYETTA (Oct. 11, 2012): Twelve years ago the Prairie Band Potawatomi Nation filed claims against the United States for mismanagement of tribal trust accounts, assets and resources. Last year, The Prairie Band Potawatomi Nation entered into negotiations for purposes of settling ongoing litigation. The settlement agreement was finalized this summer. Chairman Steve “Mon-wah” Ortiz announced that the Prairie Band Potawatomi Nation has now received its net settlement proceeds in the amount of $1,366,344.47.
The tribes may use these settlement funds for various purposes including establishing loan programs, financing social service groups, improving infrastructure on reservations, undertaking environmental initiatives and making per capita payments to their members. Pursuant to an IRS Notice from August of this year, per capita payments made to tribal members that are the proceeds of an agreement between the United States and an Indian tribe settling the tribe’s claims of mismanaged trust assets shall be excluded from the gross income of the tribal members (see IRS Notice 2012-60).
The PBPN Tribal Council is considering options for the use of the settlement funds in the near future.